Reasons for the big-three boom
Most Canadian markets are stagnating but three, in particular, are booming and one major economist has laid out five reasons for this “puzzling” trend.
Commercial landscape in flux
Commercial brokers are already forced to put in long hours for each deal and new data suggests that earning those deals may become harder, with the commercial landscape about to change.
Economist assuages overbuilding fears
Industry players and speculators shouldn’t worry about overbuilding in Canada according to one economist, who believes even the hottest markets are healthy.
Major lender applies for banking license
One of the broker network’s main lenders is applying to the Minister of Finance for a Schedule I bank charter.
Condo construction cools
The trend measure for housing starts dropped month-over-month from September to October of this year, due in part to a decrease in condo starts
BoC Governor addresses mortgage insurance exposure
Brokers have already suggested it and now the deputy governor of the Bank of Canada, Lawrence Schembri, has suggested the creation of a “private-label mortgage securitization market.”
OSFI releases official B-21 guidelines
Brokers will likely breathe a sigh of relief as OSFI has unveiled its finalized B-21 guidelines, following a draft that was largely believed to be less intrusive than its preceding B-20 version.
Hidden fees rampant in U.K. mortgage industry
Canadian brokers and mortgage borrowers are always leery of hidden mortgage fees, but one trend occurring across the pond will shock and surprise industry vets.
Scotiabank cuts 1,500 positions
Brokers are already bracing for a surge in the number of mortgage specialists entering the channel, with one big bank’s announcement that it will shed 1,500 positions in a drive to achieve “greater efficiencies” – even at a cost of $148 million.
Leading lender expands operation
Canadian First Financial Group announced Monday it is expanding its retail banking operations by adding seven locations in Western Canada.